Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of rare earth elements, uranium, and other critical materials, announced that its terbium oxide has successfully passed all qualifications for use by one of the world’s largest manufacturers of rare earth permanent magnets outside China. The Japan-based manufacturer confirmed that the terbium oxide produced at Energy Fuels’ White Mesa Mill in Utah meets its specifications and is approved for commercial rare earth permanent magnet production with no further qualification or validation required.
Terbium is a critical element used to improve the heat resistance and performance of high-strength neodymium-iron-boron (NdFeB) permanent magnets, which are essential components in electric vehicles, wind turbines, and various electronics. According to Benchmark Mineral Intelligence, terbium currently commands a market price of approximately $5.5 million per tonne, underscoring its strategic importance and value.
This announcement follows Energy Fuels’ previous qualification of its neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for rare earth permanent magnet manufacturing. With the pending acquisitions of Australian Strategic Materials (ASM) and Vacuumschmelze (VAC), Energy Fuels expects to become the leading vertically integrated “mine-to-rare earth permanent magnet” producer in the U.S. and Europe. The NdPr, Tb, and Dy oxides produced at the White Mesa Mill will serve as key components of its supply chain, positioning the company to address the growing demand for rare earth magnets outside China.
The qualification of terbium oxide is a significant milestone for Energy Fuels as it reinforces the company’s capability to produce high-purity rare earth materials that meet the rigorous standards of global magnet manufacturers. This development underscores the strategic importance of the White Mesa Mill, the only fully licensed conventional uranium mill operating in the U.S., which has been repurposed to also process rare earth elements and other critical materials.
Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities, and is expanding its portfolio to include rare earth elements, heavy mineral sands, vanadium, and the development of medical isotopes for cancer therapies. The company is also developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia (through a joint venture with Astron Limited).
The successful qualification of terbium oxide not only validates Energy Fuels’ technical expertise but also enhances its position as a key supplier of critical materials for the global transition to clean energy and advanced technologies. As the world seeks to reduce reliance on Chinese rare earth supplies, this achievement represents a step forward in strengthening the Western rare earth supply chain.
For more information, visit the company’s newsroom at http://ibn.fm/UUUU.
